With over €4 billion in AUM, France’s Sofinnova closes Fund XI at €650 million to double down on MedTech magic

Paris-based VC firm Sofinnova Partners has closed its latest flagship fund, Sofinnova Capital XI, at an impressive €650 million – a haul that surpasses its original target and reinforces its position as a major player in life sciences investment.

Backing for the new fund came from a global pool of top-tier institutional investors, including sovereign wealth funds, pharmaceutical giants, insurance firms, foundations, and family offices. Among the contributors is the British Business Bank, which confirmed a €30 million commitment to the fund. This investment is aligned with the UK government’s Life Sciences Sector Plan.

Antoine Papiernik, Managing Partner and Chairman of Sofinnova Partners, said: “This fundraising marks a pivotal moment for Sofinnova. It gives us the firepower to double down on early-stage opportunities and reinforces our uniquely collaborative, science-driven investment approach. We’re excited to continue backing visionary entrepreneurs and advancing the next wave of breakthroughs in science and medicine to bring them to patients worldwide.”

In 2025, EU-Startups reported several notable life-sciences and health-focused funding rounds across Europe, providing useful context for Sofinnova Partners’ €650 million fund close.

France’s Adcytherix secured €105 million to advance its antibody-drug-conjugate cancer therapy into clinical development, while Sweden’s Cellcolabs raised €10.3 million to scale manufacturing of mesenchymal stem cells. In Switzerland, arcoris bio closed a €6.7 million Seed round to develop and commercialise its biomarker detection technology.

Altogether, these disclosed rounds amount to roughly €121 million – substantial activity at the startup level, yet still far below the scale of Sofinnova’s newly closed vehicle.

With another French company (Adcytherix) featured among the recent rounds, the data also points to a particularly active period for French life-sciences innovation in 2025.

Papiernik added: “Achieving this milestone in today’s volatile fundraising environment speaks to the strength of our model and the confidence our investors continue to place in us.”

Founded in 1972, Sofinnova Partners has carved out a strong legacy over five decades, with offices in Paris, London, and Milan, and a portfolio that spans more than 500 companies. With over €4 billion in AUM, the firm is recognised for its science-driven investment approach and hands-on company building throughout the life sciences value chain.

The fund aims to power early-stage biopharmaceutical and MedTech startups tackling unmet clinical needs across Europe and North America, signalling a continued appetite for scientific innovation in challenging times.

Sofinnova Capital XI is already deploying capital into select companies, continuing the firm’s active participation in both initial and follow-on funding rounds. The fund’s focus aligns with its long-standing mission to translate groundbreaking research into impactful therapies and technologies.

Mark Andrews, Investment Director, Funds, Life Sciences, British Business Bank, said, “Sofinnova is a key player in life sciences venture. Our commitment to them will create further investment into UK life sciences and help solidify the manager’s connection to the UK. We are pleased to formally welcome Sofinnova to the Bank’s portfolio and look forward to seeing the breakthroughs that come from this fund.”

The launch of Sofinnova Capital XI further solidifies Sofinnova’s role as a cornerstone investor in early-stage BioTech and MedTech ventures – just this past year, the total capital raised across Sofinnova’s platform has reached €1.5 billion.

With a fund size well above expectations and continued international investor support, the firm is poised to accelerate scientific advances and commercial success for the next generation of healthcare innovators.

Christine Hockley, Managing Director and Co-Head of Funds, added: “We are highly active in the UK life sciences sector, investing in innovative companies both through funds and directly. We want all high potential companies to be able to access the capital they need from initial innovation to full expansion and maturity. For that, we need more funds with deeper pools of capital to be investing in the UK and providing funding at the all-important growth stage. Sofinnova Capital XI will do exactly that.”

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